| Most business continuity managers don't see increased risk from war with Iraq An overwhelming 84 percent of business continuity managers think that risks to their organisation’s operations have not increased at all or have increased only slightly since the start of the war with Iraq, according to a survey by Allianz Global Risks. Specifically, 64 percent say that risks have increased ‘not at all’ while 20 percent say risks have risen ‘a little’. Another 11 percent of 145 respondents, who are attending the annual Risk and Insurance Management Society Inc. conference in Chicago this week, say that risks have grown moderately while just 5 percent say risks have grown significantly. As a result, more than three out of four (76 percent) say their business continuity plans have not changed at all since the war's start. In contrast, 42 percent changed their business continuity plans moderately or significantly after the terrorist attacks on September 11th. Another 11 percent who did not have a business continuity plan before the September 11th attacks created one afterwards. More worryingly, however, is the finding that nearly one in five survey respondents (19 percent) say that they are not confident that their business continuity plans are effective. 68 percent of respondents say they have adequate insurance coverage for terrorism. This is in sharp contrast, 84 percent of risk managers who responded to a RIMS survey last year said they did not have adequate terrorism insurance.
•Date:
9th April 2003 •Region: North America •Type:
Article •Topic: BC
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